Abstract
Money devaluation or Inflation is an economic phenomenon which has become a global problem over the last two centuries and also has some legal dimensions. Legally, the responsibility for damage as the result of monetary devaluation is different before and after the due payment date.This article considers the opinions of Islamic jurisprudents on damage due to monetary devaluation on payments after the due date. In many research studies and opinions expressed in Islamic jurisprudence or legal writings, the concept and scope of monetary devaluation damages (after the due date and late payment) has not been distinguished from the scope and provisionsof other similar topics (such as late payment and money devaluation damage before the due date). Thishas caused confusion and lack of clarity regarding subject of the dispute.In this article, only opinions of Islamic jurisprudents on monetary devaluation damage after the due date is considered: they are classified into six general groups and are analyzed and criticized. After determining the nature of today’s money (paper money, electronic money etc.) under titles such as fungible and non-fungible, property and capable of being owned, it is shown that,over time, money can be considered either fungible or non-fungible. In addition, today’s money is a credit and contractual property, and the concept of property is not separable from that of being capable of being owned. So, damage to the capability of being owned is deemeda damage to property and, based on the principle of harm, should be compensated. In addition, to exempt a late-payer from responsibility when they have committed a contractual default is inconsistent with the basis of liability in opinions of Islamic jurisprudence (according to the principle of harm, rule of liability of usurper, destruction, causation, rule Revue de Recherche Juridique, No. 71. 2015 B312 of enrichment without legal cause, condition, transgression and negligence, rule of bona fide, etc.) and cannot be justified.As a result, it isn’t reasonable to limit a late-payer’s liability and impose losses on innocent creditor who is without fault. Keywords Monetary devaluation damage, Inflation, Late payment damages, Debtor, Late-payer, Fungible and non-fungible, Property,Capable of being owned
)